When you own a rental property, one of the biggest challenges is finding a qualified tenant in a timely manner; the longer your income property remains vacant, the longer it takes for you to earn a return on your investment. That said, you’ll need to be able to make sure there’s plenty of interest in your rental home, even when overall demand in the market begins to slump.
5 Ways To Attract Tenants To Your Rental Home
1. Post The Listing Online
Real estate listing sites and social media are great resources for getting your rental in front of the right audience. Make sure you know how to highlight the property’s biggest selling features in your written description; consider the renters in your area, and focus on capturing their attention by addressing how your rental meets their top priorities.
Don’t forget to include plenty of high-quality photos in your online posts. Before you photograph the property, make sure the home is free of clutter and simplistically staged in order to create a warm, inviting aesthetic.
If you have the resources available to create a video tour as well, this is another great way to show off your rental home and create demand.
2. Consider How Your Rent Price Compares To That Of Similar Rentals
Always research your local market, and pay close attention to comparable rental homes. Make sure your monthly rent isn’t significantly higher than the rate for similar homes in the area, unless your property offers unique amenities or other benefits that can justify a higher price.
3. Compare Your Income Property To Other Rental Homes
As you’re researching the local rental market, take note of similar homes and the features they include; if your rental home appears out of date in comparison to others, it may be worthwhile to consider investing in some cosmetic upgrades such as new flooring, fresh paint, or even new appliances that may help attract new tenants. Don’t be afraid to attend open houses for other rentals in your neighborhood, as this is a great way to see how your home compares.
4. Work On Improving Curb Appeal
Simple upgrades such as a fresh coat of exterior paint or some bright, colorful outdoor plants can help make your rental property more alluring to renters. If the home has an outdoor living space, consider staging this with neutral-colored patio furniture to further improve the overall aesthetic.
Don’t neglect to keep up with routine maintenance as well, like mowing the lawn, cleaning the gutters, and keeping the yard free of weeds and debris.
5. Hire A Property Manager To Help You Market The Home
Finding a suitable tenant is much easier when you have an experienced property manager working to represent your rental. Not only can a property manager help to create a custom marketing strategy for your home; they’ll also be familiar with plenty of active renters in the area who may be looking for a home like yours.
Get Help With Your Rental Home From The Bay Area’s Best Property Manager
Intempus Property Management has proudly been serving the San Francisco Bay Area for years now, and we’ve worked with hundreds of satisfied clients. If you’re looking for a trustworthy team of professionals to help you protect your investment property, we’d be honored to hear from you! Please contact us today for more information about our full list of services.